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HomeNewsPÖYRY ACQUIRES A GLOBALLY OPERATING OIL AND GAS CONSULTING COMPANY

STOCK EXCHANGE RELEASE 2 May 2006

PÖYRY ACQUIRES A GLOBALLY OPERATING OIL AND GAS CONSULTING COMPANY

PÖYRY PLC Stock Exchange Notice
May 2, 2006 at 5.45 p.m.
PÖYRY ACQUIRES A GLOBALLY OPERATING OIL AND GAS CONSULTING COMPANY
Pöyry's Energy business group has expanded its oil & gas services
portfolio and market presence by acquiring IGL Consultants Ltd. The
company's main operational bases are in Aberdeen (UK), Stavanger
(Norway), Perth (Australia) and Kuala Lumpur (Malaysia) and it has 117
employees.
Established in 1989, IGL specialises in the provision of value-adding
design, operations support and specialist consulting services to the oil
and gas sector. The company's net sales amounted to EUR 11 million and
its operating profit was EUR 1.5 million in 2005. The transaction price
for IGL Consultants Ltd. is EUR 11.1 million. IGL is debt-free and it
has a strong cash position. IGL will be consolidated into Pöyry as of
May 2006.
IGL has a wide client base that includes major international, national
and independent oil companies. Following the transaction Pöyry will
provide multi-discipline oil and gas specialist services to all sectors
of the North Sea, the Asia Pacific region and the Middle East.
The acquisition will enable Pöyry to become a major front end and
specialist consultancy solutions provider within the oil and gas
industry. The joining of forces is an excellent strategic fit for both
companies and enables Pöyry's plans to continue expansion into other oil
and gas markets. IGL's senior management and key resources will take
leading positions within the Oil & Gas business of Pöyry's Energy
business group.
Pöyry is a global consulting and engineering firm focusing on the
energy, forest industry and infrastructure & environment sectors.
Pöyry's annual net sales amount to about EUR 530 million and it employs
5600 experts.
PÖYRY PLC
Erkki Pehu-Lehtonen Teuvo Salminen
President and CEO Deputy to President and CEO
Additional information by:
Richard Pinnock, President, Energy Business Group, Zurich, Switzerland
Tel. +41 76 356 2410
Teuvo Salminen, Deputy to President and CEO, Pöyry Plc
Tel. +358 9 8947 2872, +358 400 420 285
www.poyry.com
DISTRIBUTION:
Helsinki Stock Exchange
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